Wall Street giant Goldman Sachs, one of the biggest banks in commodity trading, has called an end to the oil price super-cycle, reversing years of bullish recommendations, citing a rise in unconventional oil supplies in the United States and Canada.
Goldman has been highest predictor among major oil price forecasters but said on Thursday “long-dated” or five-year forward Brent crude may be anchored at about $90 a barrel. The bank also cut its 2013 Brent forecast to $110 a barrel from $130. Brent trade near $112 on Thursday……………………………………….Full Article: Source